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FINANCIAL NEWS
Saudi Oger telco unit to inject USD180m in Cell C
29 May 2012
(MENAFN) Oger Telecom plans to invest USD180 million into its South African subsidiary Cell C to enhance coverage and quality of its network, Reuters reported.
Cell C accounts for about 13 percent of the mobile market in South Africa, but is still in third position after MTN and Vodacom.
Cell C carries about 87 percent of its traffic on its own network, covering 92 percent of the population and about 35 percent of South Africa’s geography.
The cash injection will not change Oger’s 75 percent stake in Cell C. The remaining 25 percent is owned by black empowerment group CellSaf.
Oger, 35 percent owned by Saudi Telecom Company (STC) and part of Oger group, also holds a 55 percent stake in Turk Telekom.
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